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COINTURK NEWS > Ethereum (ETH) > Whale Invests Heavily in Ethereum and PEPE
Ethereum (ETH)

Whale Invests Heavily in Ethereum and PEPE

In Brief

  • A whale purchased Ethereum worth tens of millions of dollars.

  • The whale accumulated 37,800 ETH since May 24.

  • Another whale profited significantly by selling PEPE.

COINTURK NEWS
COINTURK NEWS 9 months ago
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During the price drops in cryptocurrencies, attention always turns to the actions of whales. Generally, when it is seen that whales take advantage of these periods, the situation can be viewed not only as a decline but also as a buying opportunity. A similar situation occurred recently with Ethereum and PEPE, which marked the months of June and July. A whale seemed to have set its sights on these two cryptocurrencies.

Contents
Ethereum Whale’s PurchasesWhale Sets Sights on PEPE

Ethereum Whale’s Purchases

A crypto whale was seen turning the weekend’s decline into an opportunity. This whale attracted the market‘s attention by purchasing Ethereum (ETH) worth tens of millions of dollars.

According to a statement by Lookonchain, one of the leading blockchain tracking firms in the market, an Ethereum address starting with “0x78D07” purchased Ethereum worth $4.7 million on Friday, with the total value of its ETH holdings exceeding $100 million.

The statement was as follows:

This whale has accumulated 37,800 ETH ($99 million) at an average purchase price of $2,420 since May 24 and currently has an unrealized profit of $7.5 million.

Lookonchain recently revealed an important piece of information. Since the end of May, an “intelligent money” whale with a perfect track record of closing transactions profitably has accumulated ETH worth $70 million.

On-chain data shows that the whale’s purchase of ETH from Binance, the world’s largest crypto exchange, is also noteworthy.

The intelligent money with a 100% win rate bought 2,424 ETH ($7.22 million)… Since May 29, it has purchased 19,436 ETH ($68.25 million) at $3,511!

As of the time of writing, Ethereum was trading at $2,595 after a drop of over 3% in the last 24 hours.

Whale Sets Sights on PEPE

While there was a focus on Ethereum among whales, Lookonchain shared with its followers that another major investor profited from an ETH-based memecoin.

According to the firm, a whale took advantage of the market decline and made a significant profit by selling its remaining PEPE (PEPE).

The whale deposited all of its remaining 395.92 billion PEPE ($3.4 million) into Binance hours ago. The whale made a total profit of $5.06 million (+199%) from PEPE.

As of the time of writing, PEPE continued to trade at $0.000008209 after a 4% drop during the day.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 12 August, 2024 - 4:20 pm 12 August, 2024 - 4:20 pm
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